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GS Finance plans range accrual notes on six-month Libor, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, May 11 – GS Finance Corp. plans to price callable quarterly six-month Libor and Russell 2000 index-linked range accrual notes due May 24, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate will be the applicable rate multiplied by the proportion of days on which the index closes at or above the barrier level, 75% of the initial index level, and six-month Libor is 6% or less. The applicable rate will be 6% per year for the first 40 quarters and 8% per year for the final 20 quarters. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning May 24, 2017, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
The notes will price May 19.
The Cusip number is 40054KCL8.
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